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The weekly sales (in dollars) for a particular brand of chocolate bar for a chain of grocery stores located in Sydney, Australia, follows. Week Sale
The weekly sales (in dollars) for a particular brand of chocolate bar for a chain of grocery stores located in Sydney, Australia, follows.
Week | Sale ($) |
1 | 100 |
2 | 125 |
3 | 321 |
4 | 430 |
5 | 400 |
a.Use a three-week moving average to develop a forecast for week 6.
b.Use exponential smoothing with a smoothing constant of =0.4 to develop a forecast for week 6.
c.Which of the two methods do you prefer and why?
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